PDIC Quiz With Answers

1.
It refers to the plan of distribution of the assets of a closed bank to its creditors
a. Schedule of distribution of assets
b. Asset distribution plan
c. Closed bank asset distribution plan
d. Creditors distribution plan
2. Statement 1: The term bank and banking institution can be used interchangeably
Statement 2: The term bank shall include banks, commercial banks, savings banks,
mortgage banks, rural banks, development banks, and agencies in the Philippines of
the foreign banks
a. Statement 1 is true
b. Statement 2 is true
c. Both statements are true
d. Both statements are false
3. Refers to a bank placed under liquidation by the Monetary Board
a. Liquidated bank
b. Turnover-ed Bank
c. Authority to close the bank
d. Closed bank
4. Statement 1: Certain products or arrangements of Islamic banks shall be deemed as
Investment products by the Bangko Sentral ng Pilipinas for this Act.
Statement 2: PDIC will not pay deposit insurance for investment products such as
bonds and securities, trust accounts and other similar instruments
5. Statement 1: The actions of the PDIC are final and executory.
Statement 2: The action of the PDIC can be restrained through the Court of the
Appeals upon the ground that the action was taken in excess of jurisdiction
6. The latest amendments to RA 3591 are contained into what Republic Act?
a. RA 10648
b. RA 10864
c. RA 10684
d. RA 10846
7. Statement 1: The PDIC shall promote and safeguard the interests of the depositing
public by way of providing permanent and intermittent insurance coverage on all
insured deposits
Statement 2: Upon approval of the BSP, the PDIC shall act as a receiver and liquidator
of closed banks
8. The amount of insured deposits for each legitimate deposit shall not exceed:
a. P500,000
b. P1,000,000
c. P2,000,000
d. P5,000,000
9. Statement 1: Foreign currency deposits are considered as insured deposits under the
PDIC Law.
Statement 2: Deposits payable outside the Philippines are considered as insured
deposits under the PDIC Law.
10. 1. PDIC shall commence the determination of insured deposits due the depositors of a
closed bank upon its actual takeover of the closed bank
2. PDIC shall give notice to the depositors of the closed bank of the insured deposits
due them by whatever means deemed appropriate by the Board of Directors
3. PDIC shall publish the notice once a week for at least 3 consecutive weeks in a
newspaper of general circulation or, when appropriate, in a newspaper circulated in
the community or communities where the closed bank or its branches are located
What is the correct sequence in the procedure for the PDIC?

a. 1, 2, and 3
b. 1, 3, and 2
c. 2, 3, and 1
d. 3, 2, and 1
11. Statement 1: A joint account shall be insured separately from any individually owned
deposit account
Statement 2: The maximum insurance for the joint account deposit is also P500,000
12. It occurs when a deposit account with an outstanding balance more than P500,000 is
broken down and transferred to two or more accounts in the name of persons or
entities who have no beneficial ownership in the transferred deposits in their names
a. Splitting of accounts
b. Splitting of deposits
c. Splitting of balances
d. Splitting of insurance
13. It refers to the possibility of failure of one bank to settle net transactions with other
banks that will trigger a chain reaction, depriving other banks of funds leading to a
general shutdown of normal clearing and settlement activity.
a. Business risk
b. Banking risk
c. Systemic risk
d. Audit risk
14. The maximum of amount of valid deposit accounts which are not required to file
claims to the PDIC?
a. P15,000
b. P50,000
c. P100,000
d. P200,000
15. Statement 1: Depositors with account balances of less than P100,000 who have no
updated addresses in the bank records are not required to file claims to the PDIC
Statement 2: A depositor has 2 years from actual takeover of the closed bank to file
claim
16. Which of the following may be considered as an insured deposit?
I. Savings deposit
II. Certificate of time deposit
III. Foreign currency deposit
a. I only
b. I and II only
c. I and III only
d. I, II, and III.
17. Belinda had the following deposits with DEF Bank:
I. Savings account #001 under her name, P100,000
II. Savings account #002 under her name, P80,000
III. Savings account #003 named after Belinda for the account of Minerva, P65,000
IV. Savings account #004 under both Belinda and Minerva as co-depositors, P44,000
How much is the insured deposit of Belinda?
a. P202,000
b. P224,000
c. P267,000
d. P289,000
18. Nanette had the following deposits with GHI Bank.
I. Account name is Nanette and Kyle, P600,000
II. Account name is Nanette or Kendra, P400,000
How much is Nanette’s insured deposit?
a. P400,000
b. P450,000
c. P500,000 (P300,000 from the first deposit and P200,000 from the second
deposit)
d. P500,000 (P250,000 from the first deposit and P 250,000 from the second
deposit)
19. If the account is held by a juridical person or entity jointly with one or more natural
persons, what are the division of the insured deposit?
a. Divided equally to both juridical person and natural person
b. The insured deposit shall belong entirely to the natural person
c. The insured deposit shall belong entirely to the juridical person
d. Divided according to the contribution in the bank account
20. If a depositor maintains both individual and joint accounts, what is its maximum
insured deposit?
a. P500,000
b. P1,000,000
c. P2,000,000
d. P5,000,000
21.

PDIC Quiz With Answers

Uploaded by

Copyright:

Available Formats

PDIC Quiz With Answers

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

PDIC Quiz With Answers

Uploaded by

Copyright:

Available Formats

1.

What is the correct sequence in the procedure for the PDIC?

You might also like